Developing a retirement program that helps employees achieve a comfortable retirement while working within the boundaries of an organization’s financial resources can challenge the savviest organization. Opportunities to reduce risk can present themselves quickly, so organizations can benefit from having a plan in place — through such tools as a journey plan or pension de-risking road map. How these decisions impact workforce planning and talent management also warrants consideration.
While each organization’s needs are unique, the benefits of preparation are universal. Start by asking these questions:
- Have you reassessed your retirement programs in light of capital market volatility, recent legislation and your organization’s fiscal needs?
- What type and level of commitment is right for your organization?
- Should you adjust your pension investment strategies to reflect variable interest rate environments?
- What strategies will help you achieve your pension de-risking goals?
- Are you investing in program features that help employees understand their savings options and learn how to manage their investments to meet future needs?